The year has been off to a quiet start, with U.S. equity markets wavering in a fairly tight range. It's been quite the contrast to the nearly 30% surge the S&P 500 made in 2013.

However, a busy week could help provide a sense of direction. Many of the biggest U.S. banks, including J.P. Morgan Chase (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS) are set to post earnings. On top of that, Dow components General Electric (GE), Intel (INTC) and American Exprss (AXP) are set to report.

On the economic calendar are data on retail sales, inflation, consumer sentiment and the housing market.

In corporate news, Goldman Sachs boosted its price target on Twitter (TWTR) to $65 from $46, according to a report by Reuters. Japan-based Suntory holdings said it would buy spirits maker Beam (BEAM) for $16 billion, including debt. The tie-up will make the world's third-biggest spirits company, according to the firms.

In commodities, U.S. crude oil futures fell 58 cents, or 0.63%, to $92.13 a barrel. Wholesale New York Harbor gasoline fell 0.13% to $2.666 a gallon. Gold was flat at $1,247 a troy ounce.

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U.S. stocks ended down on Tuesday in a retreat from the previous session's sharp rally as energy shares declined and the dollar edged up, but the S&P 500 and Nasdaq registered their ninth straight quarterly rise.